Chwity registration number: 527912 Mountsorrel Educational Fund Annual Report and Financlal Statements For the Year Ended 31" December 2024
Mounts0Cl Educational Fund Contents Reference and Admlnlstratlve Detalls Trustee5' Report 2to4 Independent Examinevs Rert Statement of Finoncial Aciiviiies Ass¢¢5 & Liubilities Notes to the Flnanclal Statements 8¢09
Mountsorrel Educational Fund Reference and Administrative DetAiIs Trustees Chairn)an M Pirt S J Utteridge R L Coulttsn A Duffy Vice-chair L Fortescue-Poole P G Hod50n P C Osborne Rev C E Resch S Parfitt L A Tyman- re5igncd 14110124 R (tfdy- appointed 02105124 J Kendrick- apw>intcd 29105r24 Other Offjcers E Resch Principal Office 4 Rothley Rd MouJ7tsorrel Lollghborough Leice41ershire LE12 7JU Charity Registration number 327912 Bankers CAF Bank 25 Kings Hill Av¢ny¢ Kings Hill West Malling Kent ME19 4JQ Independent ExAminer Hel¢n Harrison FMAAT Central Business Services 26 Oak Business Centre 79-93 Rat¢liff¢ Road Sileby Loughbomugh LE12 7PU
Mountsorrel Educational Fund Trustee%' Report The trustees httve pleasure in pre5enlins their report and the unaudiied financial statements of the charity for the ytar ended 3111 December 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT The present MountsoNel Educational Fund eomprises only the Mount8orr¢l Educa¢ional Fund. The original charities were combined are Relisiered by Deeds dated 23 June 1874: The Con501idut¢d ChuTitl¢S The Charity ofThomAs Stsihan The Charity tsf Richard Nidd The c.harity ofJo%ph D8nveTS Kcgistered Chariry No.. 527912 TRUSTEES OF THE MOUNTSORREL EDUCATIONAL FUND Trnst Deeds Amended by the Scheme (dated 28 MAY 19931 SlipulAtes th81 there should b¢ ¢welv¢ Tru8lees'. One Ex-otYi¢io Twslec ive Nominaied Trusiees.. Two by tl)e Lci¢eslcrshirc County Council as the Local Education Authority ThrLe by thL MountsorrLI P#rish Couniil Six Co-opted Trustccs THE TRUSTEES The tNstees who served th¢ chBrity durin¥ the period were as follows, and appointed by: R Cuuliun- Cu.opled Truble¢ A Duffy- Leicc5tcThhirL Cuuniy Council nominoted Tru$l¢¢ L Fort¢siu¢-Poole- Ivi¢e-Chairl Co-opted Tru5tce R Groy- Co.optcd Trustee P G Hod50n- Co-opted TrL¢Stee J Kcndrick- Mountsorrel Parish Council nominaied TNstee P C Osbome- Leicestershire County Council nominated Trustee M Pirt- ICh4Liman) Mountsorrvl Paribh Council nominBled Tru5¢ee K¢v C E Resch- Ex-otTieio TnLStee S Parfitt- Co-opted TnJ5tee L A Tyman- Co-opted TTUStee S J Utteridg¢- Mounisorrel Parish Cowicil nominated Trnstee
Mountsorrel EducatlonAI Fund Trustees, Report ObJe¢tlves *nd actlvltl Objects t7imS The Trustees have considered ihe Commission's guidance on public benefit and, in particulai. tbe specific Kuidallce for the advancer]ient of edueation artd, in this way, apply th¢ incom¢ of th¢ Mountsorrel Education81 Fund in boih or th¢ followins way5'. I In providing equipment ond other it¢ms, servic¢s wnd facilities for Christ Chureb and St Peters Church of EnglAnd School and thereby adv8nLing Ldueaiion. b) In otherwise promotltt8 the educativn lincluding social and physical tr&ininyl of persons under the a8e ofiwenry- fiv¢ yeaTS who are pupil¥ or former pupi15 of the said School or who have b¢¢n, OT who h8ve had a parcnt or guardian who has been resideni in ihe Parish of MountsorTel for at least 12 month5. Pmblle b¢Mefli If, and in so far as incom¢ can be applied us aforementioned, the Ttuslees may opply the income in generally advllneing education (including w¢ial Jnd physical trAiningl within the Parish of Mounts0e1 by providing and supporting educotionul luLilitie$ or in such monner as the TN5tees think fit. The 1rnstce5 confirni that they have complied with th¢ rquir¢ment8 of section 4 of the Ch&Tjtie8 Act 2011 to have due regard Ihc public benefit guidance publi$hed by ¢hc Charity Commigsion for EnglAnd aThd WNI¢s. ACHIEVEMENTS AND PERFORmAcE The TTUStce¥ applied the Miconr of the Mourttsonel Edu¢a¢ionul Fund in 2024 as folbws.. Schedule of Chnt$ PaKI No. Crants Ckan15 Paid Christ Church Bnd St PeteTS PrDNry School Hi¥her Edu¢otion Ind Truining A l£vel ColleBe Students CASnts - Music (rants - Oth¢r (Ixnts - Educa¢iortalTr Toi81 19 102 34.412 120.(A 31.800 1.7110 17 625 207.N)4 257 The Trustccs shall first d¢fray out of th¢ ll)conr of the Charsiy all the propercosis, ¢h8r8es and e4)enses. of, and ii¢idenial io, the adnynisttRtion and rronog¢nrnt of the Charity. 31 Dec 2024 31 tkr 2023 Total Incomlng Resour5eJ R¢sour¥¢s used Net Surplusl (Deficit) 90,693 -2,96 19,293 171.018 -197215 -26,197
Mountsorrel Educatlonal Fund Trustees, Report RESERVES POLICY It is the Policy of the Charity to maintsin fvnds ihat are free reserves of the Chariiy, ai a level thai equates to approximately one y¢ar'5 unrestri¢t¢d management administration and support costs. The Trusi¢es did incr¢as¢ lh¢ lev¢1 of gr4nis in 2019 to applicanis ond retained these ai that level in 2024. The Tntsl¢¢s will thke into Consideration th¢ level of granls in 2025 in vi¢w of the re9¢rv¢5 they hold. RISK MANAGEMENT The Tnjstees have ex&mined thc major straiegic business and operational risks iha¢ the Charity faces and confinn that Systems have be¢n ¢stablished to enuble re8ular report$ 10 be produeed $0 that the necessary steps can be tllken to Icssen th¢5¢ risks. Statement of Trustees. Reiponsibllitle The trustees are respoftsible for preparing the irusiees, report and the financial staiemenls in accordance with the United Kingdom Aceountin8 Standard5 (United Kingdom Cjcnerally Accepted Accounting Practiccl And applicable law and r¢gul&tian4, The low applilable io ch&riti¢s requires the trusiees lo preparc financial 8tatements for ea¢h fiThancial yeaT which 8ive & true and lair view of thc siatc (Il. Thftair5 of tl)c choriiy and of thc incoining rcsources and oppli¢o1ion of rcsouT¢e8 of the charlty lor thai peTiod. In PT¢parin8 ¢hc5c finan¢ial 5t¥t¢m¢ftts. th¢ tru$t¢¢s ar¢ required 10.. Seleci suiiable Accouniing policies ond Ihcn apply Ihcm ¢onsi5tenily; Observe ihe methods Hnd prin¢ip1¢5 in the Charities SORP: M8k¢ judgein¢nts and ¢5timalcs thai are reasonable and prudcni: SID1¢ wh¢th¢r appli¢abl¢ accounting Stundards have becn followed, subject to ony maierial departures disclosed and cxpluincd in the finan¢inl statements: and Prcp8Te Ilic financial slatemenis on the ¥oing concern basis unles3 it 18 inappropTiJl¢ to pr¢$um¢ that the churiiy will Lun¢inui in busin¢ss. Thc tTh5tCC5 are responsible for keeping prop¢r a¢counling records that disclosc with reasonable ac¢ur8cy at Ony time the fjnancial position of the ChSty and enabl¢ th¢m to ensur¢ th¢ finllncial statcmcrtts i01p]Y wilh the Ch#rilie.¥ Act 2011. th¢ appli¥able Charitie% (Accourtts and Riportsl Regulations, and the provision of the constitution. Th¢ trust¢rs are r¢gponsiblc for safcsuarding thc asS¢ts of th¢ ¥hMTiiy hcncc for taking resp(knsiblc 5tep5 for th¢ prevention anil detection vf fT4ud Und othcr irregulllrities. The annuol report wus approved by the trustees of the charity OD and sl8n¢d tsrt its behalf by.. Chaimian M Pirt Tru5te¢
Mountsorr¢l EducatAollal Fund Independent Examlner's Report to the tru$tee8 of Mount$Drrel EducAtlonAI Fund I report to the charity tru5tee5 on my examination ofthe u¢counts of the charity for the year ended 31" Deeemb 2024 which ar¢ Set out on pD8es 6 to 9. Respeetlvt responilbllltle8 of trustees and ei4rnlncr As the charrty'5 tTUStee5 of Mountsorrel Educutional Fund you kre responsible for the preparation of the accounts in a¢eordance with the requiTcments of the Charities Aet 2011 I'the Act,). I report in respect of my examination of the Mountsorrel Educational Fund's aecounts rrIed out undei seeiion 145 of the 201 l Act and in carrying out my Lxaminution I have followed all the applicable Directions 8iven by The Charity Commission under Section 14515Mbl of th¢ Aci. Indcpcnd¢nl examin¢r's stal¢ment I have compleied my ¢xamina¢ion. I confirni th¥1 no materi41 matt¢rs have ¢om¢ to my lltt¢ntion in ¢onn¢etion wilh Ihc cx#min8litsn 8ivin8 me causc 10 bclievc ihat in any m8ieri81 r¢spe¢l'. 4¢eounting T¢¢ords W¢ not kept in respect of Mountsorrel Edueaiional Fund as required by section 130 of the Act: or 2. the accounts do notaccord with those records: or 3. Ihe accounts do noi Comply with the a¢counlin8 r¢quircm¢rtts ¢onc¢rnin8 the forni and con*n( of 8eCOUllts Sci ou¢ in the Charili¢s (A¢UnIS and Report5.1 Re¥ulations 2008 other than any requiremeni thal tile a¢¢ounts 1¥¢ a 'iru¢ and fair vi¢w' which is not a njatler Lonsidercd ab part of an independeni examinaiion. I hav¢ no con¢crn5 and havc LOll)e aLfos5 no other malIL in Lonneciion wilh the cxamination lo which Hllejjtion ¥hould b¢ drawn in this repon in ordcr lo cnublc & prop¢r und¥r5tBni5ing of ihe a¢¢ounis to be reaLhed. Hclcn Harri8on FMAAT Central BuSLnes5 Services 26 Oak Business Centre 79-93 RAteliffe lioad Sileby Loughborough LE12 7PU
Mountsorrel EducAtional Fund Statement of Financial Activitles for the Year Ended 311t Deeember 2024 Prepared on Income & Expenditure basts &)urttsorrel Ftht#t1On Fund Staiement for the yer enthd31st DeCemr 2024 Ullre8iiYcied Total 2024 Total 2023 A¢11(1 for g¢n¢r4¢lDg fyDth: rtth reeeldfrom ML Bank Intere51 ReceId Other Incon 78.0(. 12.687.(X 78.(th. 12,687.(K> 167,912.46 3.105.75 Total re¢el 90 693.011 90 6413.00 171018.21 Ch4rltaN¢ A¢ltTrltl¢i: 207.(dN.18 1.397.91 144.99 515.1X) 323.67 207,6A)4.18 1,397.91 144.99 515.LK) 323.67 193,947.68 2.182.0 294.82 480. 310.15 Clerk F'cts Office F4)en8e8 Ac¢ounion¢y &'ees Bank ChHry¢s Total lInentS 209 985.75 209 985.75 197 214.73 Nei nKkvetr£nt ID funds -1 19292.75 -119292.75 -2&196.52 Rt¢on¢lllatlon of funth Total Funds brou8ht foTWArd Total funds cftnied lorward 73(1.776,111 217483.41 216.771?.16 217 483AI 362.Y72.68 336 776.10 All of the chaTiiy'S a¢tivitl¢5 derive from continuing opeTgtions during the above hvo period5.
Mountsorrel Edueqtional Fund Statement of Assets and Llabllltles Prepared on Aeerual basRs T(al 2024 Totsl 2023 228,912.16 348,204.91 Short term deposits Detrt18 o. O.LK) Totxl Current Asiets 22N,912.16 348 204.91 C.reditori Cicrk Fe¢8 OffKc F4enses CThnt8 agrccd not dra dom A¢iuuntancy Fccs 551.25 32.95 2130.80 37.6(Ik.SO 515.(M) Tot41 Curreni LIAldlldes 38 175.50 The financial 5taiements on pases 6 to 9 were 4pproved by the trustees, ond authorised for issue and signed on their behalf by.. Chairnian M Pirt Trusiee
Mountsorrel Education41 Fund Notes to the Financial Statements for the Year Ended 31 December 2024 Accountlng policles StAtement o¢compll&n¢e The financial statements have been prepared in aecordanc¢ wi¢h Accounting and Reporting by ChoTities: Statemei)t of Rccomm¢nded Practice applicable to charitieg preparing their o¢counts in accordance with the Financial Reponit)¥ Siandard applicable in the UK and Republic of Ireland IFRS 1021 leffeLtsve l January 20191 - IChariti¢s SORP IFRS 102)I,thc Financial R¢porting StandardappIib1< inth¢ UKand Rcpublic of Ir¢lAnd IFRS 10218nd the Chariiie5 Aet 2011. B&$lJ of prep4rgdon Mounisorr¢l Educational Fund meets the deflnition of J publi¢ b¢nefit entity under FRS 102. Assets and li8bililie5
re initially re¢ognis¢d at historieal cost or trart&action value unl¢s$ oih¢rwise statrd in the relevant accounting
policy no$. The Company chose to chAn8¢ frorn Accruol io Rcceipts ond Payment Aceouniing At lit JhnuBry 2021. The figures were restated in tlie 2020 accounts to r¢tl¢ct this. Exemptlon from prepArlng A eash flow st&t¢m¢Trt Thc chariry opied to CArly &dopi IJLill¢tin I publishcd on 2 F¢bnJury 2016 8nd have thcrcfore not included a eash flow 5tat¢m¢nt in these ron(la] swtements. CJolttg tontern Thc trustQ¢3 ¢Oll5id¢r that there are no material uncenainiies About the eharity'g ability io conlinuc a5 a going conccm. Ineome and endowments Investment Incorne Investmcnts Are held by Mountsorrel Unitcd Charitie5 (MUCI & Mount50rrcl Educational Fund re¢¢ives 113 of tha¢ irtrome. net of costs. Th¢ incom¢ i$ reco8nized oThc¢ it h85 becn received by MEF. Expendlture All cxpcndi¢urc i8rccogni8cd oncepaid. All ¢o$is arc alloc4t¢d ¢0 the applicable ¢xpenditur¢h¢adingthata¥gTeg8t¢ 5itnilar costs lo ihal cate¥ory. Where costs cannol bc dirccily atlribuied to particular headins5 IhLy liavc bL'eTh &lloLlltcd on a baSLS Lonsistcnt with thc usc ofresourLC5. Wlth central srun'c05ts alloLJted on thc basis of lim¢ spent, and depreei8tion charues allocated on the portion of ihe 8s5el's use. Other 8upport cosis are 8llocated based on the spread of staff costs. RalslDg fundl The&earecosts incurred in attrnctin8 voluntary income, the m*na8ement ofinvestmenls and those incurred in tr&din8 acttvities ihatraise funds.
Mountsorrel Educ4tiollal Fund Notes to the Financial Statements for the Year Ended 31 December 2024 Ch4rltable 4ctlvtti¢$ ChattbIe expendiiure comprises those costs incwred by the charity in the delivery of ils aciivities and seTViLLS Cor its beneficiMri¢s. It includ¢5 both costs that can be allocated directly such aclivities and those costs oran indirect nature necesbary lo Support Ihcjn. Grant prov1510115 Provisions for antS are made when the intention to make a grant hag been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of 8lJllt PAyAble. Governanee colti 'rh¢se include th¢ costs gttributsble to the charity's compliance with con.%lLtutionul and 5tabJtory reglilTem¢nt$. including 4udii. straiegic managemenl and ITusle¢5' m¢etings gnd TeimbuTs¢d ¢xpeDses. T4x4tlon The charity is considered to poss the tests set out in Paragraph I Schedule 6 of the FinaTh¢¢ Act 2010 and therefore li meeL8 the definititsn of a chariwble company for IJK ¢orporatiOD ¢aX Putposes. Ac¢oTdingly. th¢ harity is potcntially exernpt from taxation in respect of income or capital gains received within caiegorie5 ¢oveTLd by Chapi¢T 3 P8n I l ot. the Corporation Tax Act 2010 OT Section 256 of thL Taxation of Cliar8eable Gains Aci 1992. 10 th¢ exnt th81 su¢h incorne or ¥ain8 are Qpplied exclusively lo chiTit#ble purpose5. Fund structure Unr¢stri¢t¢d in¢om¢ fundg Rre general funds that are availv4bl¢ for u5C Ot thc tru$tv$' di¥r¢tion itt furtherhnce of thc ubje¢¢iveJ ofthc ch8riiy. RelAted p¥Jrty trn5ICtlon During th¢ year the charity h&d the following related P4Tty tr8nSActions.' Mount8orrol Unlted ChArltl¢J Rev C E Resch and M. Pirt ore Trustees of Mountsorrel United Charities. Mountsorrel United Charitie% providey income to Mountsorrel Edu¢aiional Fund al its discTCtion. Oncr the income has becn allocatcd. thc de¢i4ion will not b¢ re%cinded and will remain available to Mountsorrel Educational Fund until they ask for it to be transferred 10 Ihem. During the year, Mounl8OTr¢l Uniied Charities allocated Mountsorr¢l Educational Fund inve$tm¢nt income of £78,U0612023 £167,912).